Federal Register / Vol. 67, No.
241 / Monday, December 16, 2002 / Rules and Regulations
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9025]
RIN 1545–BA05
Intercompany Transactions:
Conforming Amendments to Section
446
AGENCY: Internal Revenue Service (IRS),
Treasury.
ACTION: Final regulations.
SUMMARY: On July 18, 1995, the
Treasury Department and the IRS
published final regulations governing
the intercompany transaction system of
the consolidated return regulations.
Those regulations state that the timing
rules of the intercompany transaction
system are a method of accounting. At
the time of the publication of those
regulations, no amendment was made to
the regulations promulgated under
section 446 to coordinate with that
statement. This document contains final
regulations confirming that the timing
rules of the intercompany transaction
regulations are a method of accounting.
These regulations apply to all taxpayers
filing consolidated returns.
DATES: Effective Date: These regulations
are effective December 16, 2002.
Applicability Date: These regulations
apply to consolidated return years
beginning on or after November 7, 2001.
FOR FURTHER INFORMATION CONTACT:
Vincent Daly, (202) 622–7770, or Jeffery
G. Mitchell (202) 622–4930 (not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
Background and Explanation of
Provisions
On July 18, 1995, the Treasury
Department and the IRS published in
the Federal Register (60 FR 36671
(1995–2 C.B. 147)) final regulations
under § 1.1502–13 governing the
intercompany transaction system of the
consolidated return regulations.
Included in such regulations was an
express statement that ‘‘[t]he timing
rules of [the intercompany transaction
regulations] are a method of accounting
for intercompany transactions, to be
applied by each member in addition to
the member’s other methods of
accounting.’’ § 1.1502–13(a)(3)(i). At the
time of the publication of those final
regulations, no amendment was made to
the regulations promulgated under
section 446 to coordinate with the
statement in § 1.1502–13(a)(3)(i) that the
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76985
timing rules of § 1.1502–13 are a method
of accounting.
In General Motors v. Commissioner,
112 T.C. 270 (1999), the Tax Court
determined that the timing rule of
former § 1.1502–13(b)(2) was not a
method of accounting for purposes of
section 446(e). On November 7, 2001,
the Treasury and the IRS published in
the Federal Register a notice of
proposed rulemaking (REG–125161–01,
66 FR 56262 (2001–48 I.R.B. 538))
proposing amendments to CFR part 1
under section 446 of the Internal
Revenue Code to confirm that the timing
rules of § 1.1502–13 are a method of
accounting. No written comments
responding to the notice of proposed
rulemaking were received, and no
public hearing was requested or held.
Therefore, the proposed regulations are
adopted by this Treasury decision
without change.
Special Analyses
It has been determined that this
Treasury decision is not a significant
regulatory action as defined in
Executive Order 12866. Therefore, a
regulatory assessment is not required. It
also has been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to these regulations. Because the
regulations do not impose a collection
of information on small entities, the
Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to
section 7805(f) of the Internal Revenue
Code, the notice of proposed rulemaking
preceding these regulations was
submitted to the Chief Counsel for
Advocacy of the Small Business
Administration for comment on its
impact on small business.
Drafting Information
The principal author of these
regulations is Vincent Daly, Office of the
Associate Chief Counsel (Corporate).
However, other personnel from the IRS
and Treasury Department participated
in their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
amended as follows:
PART 1—INCOME TAXES
1. The authority citation for part 1
continues to read in part as follows:
Authority: 26 U.S.C. 7805 * * *
PO 00000 Frm 00005 Fmt 4700 Sfmt 4700
2. Section 1.446–1 is amended by
adding paragraph (c)(2)(iii) to read as
follows:
§ 1.446–1 General rule for methods of
accounting.
* * * * *
(c) * * *
(2) * * *
(iii) The timing rules of § 1.1502–13
are a method of accounting for
intercompany transactions (as defined
in § 1.1502–13(b)(1)(i)), to be applied by
each member of a consolidated group in
addition to the member’s other methods
of accounting. See § 1.1502–13(a)(3)(i).
This paragraph (c)(2)(iii) is applicable to
consolidated return years beginning on
or after November 7, 2001.
* * * * *
3. In § 1.1502–13, the second sentence
of paragraph (a)(3)(i) is revised to read
as follows:
§ 1.1502–13 Intercompany transactions.
(a) * * *
(3) * * *
(i) * * * See § 1.1502–17 and, with
regard to consolidated return years
beginning on or after November 7, 2001,
§ 1.446–1(c)(2)(iii). * * *
* * * * *
David A. Mader,
Assistant Deputy Commissioner of Internal
Revenue.
Approved: December 9, 2002.
Pamela F. Olson,
Assistant Secretary of the Treasury.
[FR Doc. 02–31614 Filed 12–13–02; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF LABOR
Employment Standards
Administration; Wage and Hour
Division
29 CFR Part 500
Migrant and Seasonal Agricultural
Worker Protection
AGENCY: Wage and Hour Division,
Employment Standards Administration,
Labor.
ACTION: Final rule.
SUMMARY: The purpose of this document
is to change the Public Registry toll-free
telephone number listed in § 500.170 of
regulations, 29 CFR part 500.
DATES: This rule is effective on
December 16, 2002.
FOR FURTHER INFORMATION CONTACT:
Mary Ziegler, Team Leader, Farm Labor
Team, Office of Enforcement Policy,
Wage and Hour Division, Employment
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 76986 Federal Register / Vol. 67, No. 241 / Monday, December 16, 2002 / Rules and Regulations
Standards Administration, U.S.
Department Labor, Telephone (202)
693–0700. This is not a toll free number.
SUPPLEMENTARY INFORMATION:
I. Paperwork Reduction Act
This rule imposes no reporting or
recordkeeping requirements on the
public.
II. Background
Section 500.170 of regulations, 29
CFR part 500 requires the Administrator
to establish a Central Public Registry of
all persons issued a Certificate of
Registration or a Farm Labor Contractor
Employee Certificate. Information
contained within the registry is made
available upon request, either via the
mail or by telephone. The toll-free
number to call for obtaining information
from the central public registry was
formerly 1–800–800–0235. The
Department of Labor’s change in phone
service has resulted in a new toll-free
number for all public inquiries. The
new number is 1–866–4US–WAGE (1–
866–487–9243).
A. Summary of Rule
Section 500.170 of Regulations, 29
CFR part 500 is amended to provide for
a new toll-free telephone number for
obtaining information contained in the
Central Public Registry. The new
number is 1–866–4US–WAGE (1–866–
487–9243).
B. Executive Order 12866
Because this rule merely changes the
applicable toll-free telephone number
for obtaining registry information, it is
limited to agency organization and
management matters and is, therefore,
not subject to the requirements of
Executive Order 12866. See Sec. 3(d)(3)
of E.O. 12866.
C. Regulatory Flexibility Act
Because no notice of proposed
rulemaking is required for the rule
under 5 U.S.C. 553(b)(3), the
requirements of the Regulatory
Flexibility Act, Public Law 96–354, 94
Stat. 1165, 5 U.S.C. 601 et seq.
pertaining to regulatory flexibility
analysis, do not apply to this rule. See
5 U.S.C 601(2). The rule simply changes
an applicable telephone number and
will not have a significant economic
impact on a substantial number of small
entities.
D. Administrative Procedure Act
This regulation relates to internal
agency practice or management or
organization and is procedural in
nature. Accordingly, pursuant to 5
U.S.C. §§ 553(a)(2) and 553 (b)(3)(A), the
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requirements for prior notice and public
comment do not apply to this rule.
The Secretary also for good cause
finds, pursuant to 5 U.S.C. 553(d)(3),
that this rule should take effect
immediately because it is merely a
technical procedural change in an
applicable toll-free telephone number
which does not affect any substantive
rights.
E. Document Preparation
This document was prepared under
the direction and control of Tammy D.
McCutchen, Administrator, Wage and
Hour Division, Employment Standards
Administration, U.S. Department of
Labor.
List of Subjects in 29 CFR Part 500
Administrative practice and
procedure, Agricultural, Aliens,
Carpools, Farmer, Farm labor contractor,
Housing standards, Immigration,
Insurance, Investigation, Labor,
Manpower training programs, Migrant
labor, Motor carriers, Motor vehicle
safety, Occupational safety and health,
Penalties, Reporting requirements,
Safety, Seasonal agricultural workers,
Transportation, Wages.
For the reasons set forth above, 29
CFR part 500 is amended as set forth
below.
Signed at Washington, DC on this 10th day
of December, 2002.
Tammy D. McCutchen,
Administrator, Wage and Hour Division.
PART 500—MIGRANT AND SEASONAL
AGRICULTURAL WORKER
PROTECTION
1. The authority citation for part 500
is revised to read as follows:
Authority: Pub. L. 97–470, 96 Stat. 2583
(29 U.S.C. 1801–1872); Secretary’s Order No.
4–2001, 66 FR 29656.
2. Section 500.170 is revised to read
as follows:
§ 500.170 Establishment of registry.
The Administrator shall establish a
central public registry of all persons
issued a Certificate of Registration or a
Farm Labor Contractor Employee
Certificate. The central public registry
shall be available at the Regional Offices
of the Wage and Hour Division and its
National Office in Washington, DC.
Information filed therein shall be made
available upon request. Requests for
information contained in the registry
may also be directed by mail to the
Administrator, Wage and Hour Division.
Attn: MSPA, U.S. Department of Labor,
Washington, DC 20210. Alternatively,
requests for registry information may be
made by telephone by calling 1–866–
PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\16DER1.SGM
4US–WAGE (1–866–487–9243), a toll-
free number, during the hours of 8 a.m.
to 5 p.m., in your time zone, Monday
through Friday.
[FR Doc. 02–31525 Filed 12–13–02; 8:45 am]
BILLING CODE 4510–27–P
DEPARTMENT OF TRANSPORTATION
Coast Guard
33 CFR Part 100
[CGD07–02–122]
RIN 2115–AE46
Special Local Regulations; Winterfest
Boat Parade, Broward County, Fort
Lauderdale, FL
AGENCY: Coast Guard, DOT.
ACTION: Final rule.
SUMMARY: The Coast Guard is
establishing special local regulations for
the annual Winterfest Boat Parade held
on the first Saturday falling between
December 13 and 19, inclusive, each
year in Fort Lauderdale, Florida. This
rule creates four separate regulated areas
and restricts operations of non-
participant vessels in the regulated
areas. These regulations are to provide
for the safety of life on navigable waters
during the event.
DATES: This rule is effective from 4 p.m.
until 11 p.m. annually, on the first
Saturday falling between December 13
and 19, inclusive.
ADDRESSES: Documents indicated in this
preamble as being available in the
docket, are part of [CGD07–02–122] and
are available for inspection or copying
at Coast Guard Group Miami, 100
MacArthur Causeway, Miami Beach,
Florida, 33139 between 8 a.m. and 4
p.m., Monday through Friday, except
Federal holidays.
FOR FURTHER INFORMATION CONTACT:
BMC Sorensen or BM1 Vaughn, Coast
Guard Group Miami, Florida at (305)
535–4317.
SUPPLEMENTARY INFORMATION:
Regulatory Information
On October 31, 2002, we published a
notice of proposed rulemaking (NPRM)
entitled ‘‘Special Local Regulations;
Winterfest Boat Parade, Borward
County, Fort Lauderdale, FL’’ in the
Federal Register (67 FR 66349). We did
not receive any letters commenting on
the proposed rule. No public hearing
was requested, and none was held.
Background and Purpose
The Winterfest Boat Parade is a
nighttime parade of approximately 110
16DER1